2016 Cadillac SRX Car Insurance Cost

Looking for lower auto insurance rates for your Cadillac SRX? Did you come to the realization that you have an underperforming, overpriced auto insurance policy? Trust us, many consumers are in the same pinch.

Multiple car insurance companies compete for your insurance dollar, so it’s not easy to compare every insurance company and get the definite best rates possible.

It’s important to price shop coverage at least once a year because prices change frequently. Even if you got the best deal on SRX coverage at your last renewal you can probably find a lower rate today. Block out anything you think you know about auto insurance because I’m going to let you in on the secrets to the right way to find better coverage at a better price.

How to compare auto insurance price quotes

There are a lot of ways you can shop for auto insurance but one way is less time-consuming than others. You can waste a lot of time talking to agents in your area, or you can stay home and use online quoting for quick rates.

Many popular insurance companies participate in an industry program that allows shoppers to submit their information once, and each company returns a rated price based on that information. This saves time by eliminating form submissions to each individual auto insurance company. To find out how much you can save on auto insurance click to open in new window.

The only drawback to pricing coverage this way is you are unable to specify which companies you will receive quotes from. So if you prefer to pick specific providers to request quotes from, we have a page of low cost auto insurance companies in your area. Click to view list.

It’s up to you how you get prices quotes, just make sure you are using exactly the same quote information on every price quote you get. If you use differing limits it will be nearly impossible to determine the best price for your Cadillac SRX. Having just a slight variation in insurance coverages or limits can make a big difference in price. It’s important to know that obtaining a wide range of quotes helps improve the odds of finding more affordable insurance.

Buyer beware of insurance advertising tricks

Insurance providers like State Farm, Geico and Progressive consistently run television and radio advertisements. They all make an identical promise about savings if you switch your policy. It sounds good, but how can they all sell you cheaper insurance coverage? Here is the trick they use.

Insurance companies quote the lowest rates for the type of customer that will most likely be profitable. For example, a profitable customer could be between 30 and 50, has no claims, and the vehicle is rated for pleasure use. Anyone that meets those criteria receives the best premium rates and have a good chance to save when they switch companies.

Drivers who may not quite match this ideal profile will be charged higher premiums and this can result in the driver buying from a lower-cost company. If you listen to the ad wording, they say “drivers that switch” not “all people who quote” save the amount stated. This is how companies can truthfully claim big savings. Because of the profiling, you really need to get a wide range of price quotes. It’s just too difficult to predict which insurance company will give you lower rates than your current company.

Six factors that influence insurance costs

It’s important that you understand some of the factors that help calculate the price you pay for insurance coverage. If you understand what positively or negatively impacts your premiums, this allows you to make educated decisions that can earn you lower premium levels.

The factors shown below are some of the items used by your company to calculate your premiums.

  • Younger vs. older drivers – More mature drivers are more responsible, cause fewer claims and accidents and get fewer tickets.Drivers with little experience have been known to be more careless behind the wheel therefore insurance coverage rates are much higher.
  • Insure car and home with the same company – Most insurers apply better rates to buyers who consolidate policies with them, otherwise known as a multi-policy discount. This can amount to ten percent or more. Even if you already get this discount, consumers should still compare rates to make sure you are getting the best deal.There is a good possibility that you can save even more even if you have your coverage with different companies
  • Continuous coverage lowers prices – Having a gap between insurance policy dates will be a fast way to bump up your insurance coverage costs. In addition to paying higher rates, getting caught without coverage could result in a revoked license or a big fine. You may then be required to prove you have insurance by filing a SR-22 with your state DMV.
  • Save money with high credit – An insured’s credit rating can be an important factor in determining what you pay for insurance coverage. People that have very high credit ratings tend to be better risks to insure than those with lower credit scores. Therefore, if your credit score can be improved, you could save money insuring your 2016 Cadillac SRX by improving your credit score.
  • Your address can influence costs – Residing in less populated areas can save you money when it comes to insurance coverage. People in densly populated areas regularly have more auto accidents and a longer drive to work. Fewer drivers on the road means less chance of accidents as well as less vandalism and auto theft.
  • You might want pay the small insurance claims yourself – Companies award discounts to policyholders who do not file claims often. If you file claims often, you can expect much higher rates or policy non-renewal. Insurance coverage is intended for major claims that would cause financial hardship.

More discounts mean lower-cost premiums

Some insurers don’t always list every discount very well, so the next list breaks down some of the more common and the more hidden ways to save on auto insurance.

  • Discount for Low Mileage – Low mileage vehicles can qualify you for slightly better premium rates than normal.
  • Student in College – Youth drivers who are enrolled in a college that is more than 100 miles from home and do not take a car to college may be insured at a cheaper rate.
  • One Accident Forgiven – This one isn’t a discount, but a few companies such as State Farm and Geico will forgive one accident before raising your premiums with the catch being you have to be claim-free for a specific time period.
  • New Vehicle Savings – Putting auto insurance coverage on a new car can get you a discount compared to insuring an older model.
  • Include Life Insurance and Save – Some insurance companies give better prices if you take out a life insurance policy as well.
  • Senior Citizen Discount – If you qualify as a senior citizen, you are able to get a slight reduction on a insurance coverage quote on SRX coverage.
  • Own a Home and Save – Owning your own home or condo can earn you a little savings since home ownership means you have a higher level of financial diligence.

We need to note that some credits don’t apply to your bottom line cost. Most only cut individual premiums such as physical damage coverage or medical payments. So despite the fact that it appears you would end up receiving a 100% discount, it just doesn’t work that way.

Some companies that may have these discounts include:

Before you buy a policy, ask every insurance company which discounts they offer. A few discounts might not be offered on policies in your area. If you would like to see a list of auto insurance companies that offer many of these discounts, click this link.

It’s not one size fits all

When choosing proper insurance coverage for your personal vehicles, there isn’t really a single plan that fits everyone. Your needs are not the same as everyone else’s so your insurance should reflect that For example, these questions can help discover if you might need an agent’s assistance.

  • Will my rates increase for filing one claim?
  • I have a DUI can I still get coverage?
  • Am I covered when delivering products for my home-based business?
  • Are my friends covered when driving my car?
  • Does insurance cover tools stolen from my truck?
  • What is medical payments coverage?
  • Does having multiple vehicles earn me a discount?

If it’s difficult to answer those questions but you think they might apply to your situation then you might want to talk to an agent. To find lower rates from a local agent, simply complete this short form or click here for a list of insurance companies in your area.

Car insurance coverages 101

Learning about specific coverages of a car insurance policy helps when choosing the best coverages and the correct deductibles and limits. Car insurance terms can be confusing and nobody wants to actually read their policy. Listed below are the normal coverages offered by car insurance companies.

Medical expense coverage

Personal Injury Protection (PIP) and medical payments coverage provide coverage for expenses for things like nursing services, ambulance fees, dental work, pain medications and rehabilitation expenses. They are used in conjunction with a health insurance policy or if you lack health insurance entirely. They cover not only the driver but also the vehicle occupants as well as being hit by a car walking across the street. PIP is not universally available but it provides additional coverages not offered by medical payments coverage

Uninsured or underinsured coverage

This coverage gives you protection when other motorists either have no liability insurance or not enough. This coverage pays for medical payments for you and your occupants and also any damage incurred to your 2016 Cadillac SRX.

Due to the fact that many drivers only carry the minimum required liability limits, it doesn’t take a major accident to exceed their coverage limits. This is the reason having UM/UIM coverage is a good idea.

Collision protection

This will pay to fix damage to your SRX caused by collision with another vehicle or an object, but not an animal. You have to pay a deductible and then insurance will cover the remainder.

Collision can pay for claims such as crashing into a ditch, hitting a parking meter, colliding with another moving vehicle and sustaining damage from a pot hole. Collision is rather expensive coverage, so you might think about dropping it from lower value vehicles. Another option is to bump up the deductible to get cheaper collision coverage.

Comprehensive protection

Comprehensive insurance coverage pays to fix your vehicle from damage caused by mother nature, theft, vandalism and other events. You need to pay your deductible first then the remaining damage will be covered by your comprehensive coverage.

Comprehensive coverage protects against claims such as hitting a bird, damage from getting keyed, falling objects and hail damage. The maximum payout you’ll receive from a claim is the cash value of the vehicle, so if the vehicle’s value is low consider dropping full coverage.

Liability

Liability coverage protects you from damage that occurs to people or other property. This coverage protects you from claims by other people. It does not cover your own vehicle damage or injuries.

Liability coverage has three limits: bodily injury per person, bodily injury per accident and property damage. You commonly see liability limits of 100/300/100 which stand for $100,000 bodily injury coverage, a limit of $300,000 in injury protection per accident, and a limit of $100,000 paid for damaged property.

Liability coverage pays for claims such as repair costs for stationary objects, legal defense fees and loss of income. How much liability should you purchase? That is a personal decision, but it’s cheap coverage so purchase as much as you can afford.

Better coverage you can count on

Some insurance companies do not provide online price quotes smaller companies only sell through independent insurance agents. Budget-conscious 2016 Cadillac SRX insurance is attainable online in addition to many insurance agents, so you should compare both to get a complete price analysis.

You just read many ways to save on 2016 Cadillac SRX insurance. It’s most important to understand that the more providers you compare, the higher your chance of finding low cost insurance coverage. Drivers may discover the lowest rates are with the least-expected company. Regional companies may have significantly lower car insurance rates on certain market segments than the large multi-state companies such as State Farm, Geico and Nationwide.

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